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>>> i'm jim cramer and welcome to my world. you need to get in the game. firms are going to go out of business, and he is nuts! they're nuts! they know nothing. i always like to say there is a bull market somewhere. "mad money." you can't afford to miss it. hey, i'm cramer, this is "mad money," welcome to cramerica can. my job is not just to entertain, but to educate and teach you. so call me at 1-800-743-cnbc. something has happened in this market, and you got to know the sea change to grasp what is going on. oh, we saw it big today, dow sliding 27 points, s&p giving up .35%. nasdaq declining 6.7%. we've seen it for many days, actually, dating back to the bad old ones at the beginning of june. that something is that the u.s. has become important again. ♪ not ascendant, but important. sure, there are plenty of days we can come in here and note that our s&p futures are down big because spain is having problem or china's economic growth has slowed. we can keep pondering what happens if the haves and the have not nations of europe can't come to an agreement to bail out spain. we can
>>> nat gas. >> valley short. >> health care xlv. >> murphy oil. >> we will >>> i'm jim cramer. welcome to my world. >> you need to get in the game. >> firms are going to go out of business, and he's nuts. they're nuts. they know nothing. >> i always like to say there's a bull market somewhere. >> "mad money," you can't afford to miss it. >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job isn't just to entertain but to educate and teach you. call me at 1-800-743-cnbc. what would happen if a presidential contender ran on a platform that included as essential ten that he wanted stocks to go higher? what would happen if either presidential candidate came out and said, i think the stock market should break out to all-time highs and buy! i'm going to do my best to get it there. that's something to ponder on the night of the first debate n a day where the averages couldn't punch their way to be higher. dow gaining 12 points. s&p climbing .36%. neither candidate has articulated such a view. bu
jim is here with me. >> thank you. >> need extra reinforcements. and they don't come any better than having you on this morning. we had spanish unemployment out this morning and i know we have to talk china and australia, but on your travels at the moment, what do you think of the rather nonlinear as you put it in your notes, this nonlynn krer progress where we're at, the ecb waiting. economics is getting worse. >> well, actually, let me start with the last point you made. and the very latest marginal information, yesterday's pmi -- >> slightly better than the flash number. >> spanish unemployment number is almost definitely a bit of a lagging indicator. the bounce in italy in particular was interesting and a further modest improvement in spain. the level of spain and italy's pmi is now higher, so everybody is highly focused on the spanish thing, but surely it's gist a matter of when they are in a program. i'm not sure if it's the big cutting edge story anymore. >> italian paper is going to give some of the best returns this year. 20%. >> you know, the underlying thing i believe post
>>> i'm jim cramer, and welcome to my world. >> you need to get in the game. firms are going to go out of business and he's nuts! they're nuts! they know nothing! there's a bull market somewhere. >> "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm trying to save you some money. my job is to educate you, so call me at 1800-743-cnbc. what happens if we actually get some good news in the market? you get what we had today when a key u.s. manufacturing index number showed an economic expansion. not a contraction. the dow rocking 78 points, the s&p gained and the nasdaq declined, and the averages were higher earlier in the day. now, we have had some decent data, housing numbers, auto sales, retail purchasing, but the figure from the institute for supply management forced money to flood into the market at the beginning of the day. rather than flowing out of it. breaking the awful monday tradition. and the tide did hold up for most of the session. the bullish data coupled with last night's positi
. thanks for watching. >>> i'm jim cramer and welcome to my world. >> you need to get in the game. >> he's going out of business and they're nuts. they're nuts. they no nothing. >> i always like to say it's a bull market summary. "mad money," you can't afford to miss it. hey, i'm cramer, this is "mad money," welcome to cramerica can. so call me at 11-800-743-cnbc. oh, we saw it big today, dow sliding 27 points, s&p giving up .35%. nasdaq losing 6.3%. that something is that the u.s. has become important again. there are plenty of days where we can come in here and note that our s&p purchases are down big because spain has a problem or china's economic growth is slowed. we can keep pondering what happens if the haves and the have not nationings of europe. we can sweat the program of every single disapointing piece of chinese data. or we can recognize that the united states is starting to become the more dominant market on the earth. today is the perfect example. we woke up to news that once again, some data point from china showed a further decline and that clearly faltered the economy. th
is the volatility index relatively low? let's bring in jim king, our guest today. south texas money-management president and chief economist joining me for the last hour of trading. you folks in south texas don't scare so easily. >> a lot of things people are worried about, china and the middle east and europe, fiscal cliff, these have been highly telegraphed and -- liz: you are telling me the same thing i did at the top of the show. is anybody surprised by this. the imf says we are downgrading our estimates for the entire planet. be smarter than the rest of these government agencies. we knew that was going to happen. are you bullish on stocks? >> the imf is playing catch up. everybody -- [talking over each other] >> that shouldn't be a surprise. we are bullish on stocks the next few months and strong headwinds in the way of declining policy and the fiscal side that we should see. in the next two to three months but we are trading in a narrow trading range. given the run we had, a pullback is what you expect looking at data. liz: is a boring question because we're not there yet. is
romney says big bird's got to go along with jim lehrer. >> does anyone think it's strange that juan is defending pbs? >> i'm not saying. >> that's it for us, thanks for watching, have a great weekend, bye. >> did mitt romney's post debate victory hit a speed bump with the unemployment rate? we'll break down what the numbers mean. this is special report. good evening, i'm bret baier. president obama is hailing the jobs report, showing a drop from 8.1% to 7.8, as a sign the country has come too far to turn back now. his republican challenger says the new numbers are not the sign of a true recovery, in fact, he says they're telling a far different story. the government's household survey says that 873,000 people entered the work force. but the employer survey found 114,000 new jobs created, 10,000 of those in government. so, the difference, about 760,000 are apparently not full-time stable jobs, what's known as the real unemployment mark, the unemployed and those too discouraged to look for work remains unchanged at 14.7%. white house correspondent wendell goler begins our coverage of
construct like we were in some sort of ideological debate. stocks are good. >> the data has jim mixed this week, but we did get numbers mixed and consumer confidence is good and unemployment and yet, jack welch, the former ceo of general electric as you just mentioned on squawk out on twitter today. he's been obviously critical of the white house for years now, but he says unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers. that's the former head of a very large company. >> i'm on tv, and i remember jack sent me a fax when i was first on with mark haynes. i like you. i love jack. i'm trying to reconcile jack with the numbers because i trust jack and think he's terrific. i come back and say listen, they've been wrong -- he's jack. i don't think that they're phony. it doesn't make me feel that jack is off the reservation so much that i think that this particular issue -- i disagree with him. i read the tweet and i was, darn, jack, come on, man. >> let's say good is good. >> does this mark the turning point and we had david come out this mornin
will be joined by jim grant. we're going to talk about the best investing strategies for the rest of the year with him. first, let's get you up to speed on this morning's headlines. over to andrew. >>> friday we'll get the government september jobs report. could be a game changer for the election. we'll get a hint of what may be to come. the employment report coming at 8:15 eastern time. poll forecasters say the economy likely added 155,000 private payroll jobs this month. we'll bring you the number and get you instant reaction from joel prakken. in corporate news, richard schultz is pressing forward with a possible $11 billion buyout of the retailer. schultz and at least four private equity firms have reportedly started examining the books of the economy. at the same time, he is said to be negotiating individually with the pe firms on the details of how his roughly 20% stake in the company would contribute and what role he might be playing after a buyout. and oracle ceo larry ellison says the company won't be making any major acquisitions during the next couple years. in an interview on "clo
thoughts. really appreciate it. closing bell ringing in just under 15 minutes. coming up, jim tierney's number one moneymaker won't leave you hungry because i am starting. coming up next. . coming up next. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-dai inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd spir
in the race for the white house? good morning. welcome. i'm melissa lee along with carl quintanilla and jim cramer. david faber is at the economic summit in larue, texas. he'll join us from there in just a few minutes to kick off an exclusive interview with meg whitman. let's have a look at the futures this morning. we are seeing a positive bounce here. we are digesting, as we mentioned, last night's debate as well as jobless claims which came in lower than expected. the previous week was revised slightly higher. we are, of course, looking ahead to the jobs report on friday. as for europe, the ecb, as expected, holding the course on rates. we are looking at these headlines crossing from mario dragi. we'll monitor those as to where he will stand and the ecb stand on future rate cuts. >>> our road map starts in denver where president obama speaks this morning, trying to counter the widespread perception that he lost last night's debate. his in-rate contract down 7%, but do stocks have to start pricing in a romney rebound? >> the ecb standing pat on rates as expected as the pressure on spain t
can get healthier. this morning the moderator of the first presidential debate jim lehrer will be here on set. >> it's all his fault. >> romney adviser dan senor will be here to give us a preview of the candidate's foreign policy address today. and famed novelist salman rushdie will join us. >>> up next, the top stories in the "politico playbook." first, bill karins, the potted plant. >> i love you, bill. i love you. >> mika's a little angry today. >> i had to get up early. >> she's really upset. that's a nice catch. mika's upset. you know what i'm going to say? jobs numbers! you're right. >> i am. >> i know you are. >> i know you want to say it in a way that you think i'm not -- >> mika's right. >> i have charts. would you like them? good. >> let me grab this by the reins here. let me take you out the door on this columbus day. good morning, everyone. we are watching clearing skies in new england, not going to last long. bring the umbrella today if you're in the d.c., baltimore, virginia and carolinas. whatever sunshine you have this morning, it won't be there all day long. cold tempe
in the first debate but i think jim is right, governor romney terrific performance, showed himself to be a leader, really did away with a lot of those preconceived notions that people had and it's really game on. >> they got by accident that -- ed, just listening to you -- >> no, hey, joe, governor romney was responsible for a lot of those himself. >> yeah, right, when you cut out a clip little sound bites. you know how -- >> it was his fault for not getting out. >> yeah but. >> at least you didn't say it, you're not going to call governor romney a liar and a cheater and blame jim lehrer for not -- obama talked four minutes more but that we're going to hear tonight. he's a liar and cheater, that's really a pathetic answer to what happened in that debate. and if he was a liar the president should have called him out on it. why didn't president challenge him? >> somebody want to talk? >> the most important -- >> governor rendell, i'd like to hear governor rendell's response to that first, i'm sorry. >> i don't believe you call people a liar, et cetera. look there's no question -- >>
despite mitt romney doing this. >> i'm sorry, jim, i'm going to stop the subsidy to pbs, i'm going to stop other things. i like pbs. i like big bird. i actually like you, too. i'm not going to spend money on things to borrow money from china to pay for it. >> he [ bleep ] fired big bird! he still won walking away. romney won with the sound up. >> you're entitled to your own airplane and your own house but not to your own facts. >> romney won with the sound off. dude, he's yelling at you! look up! look up! what are you looking at? what are you writing that's so important? what are you doing -- oh, that's not -- oh, i didn't realize. that is impressive work. i didn't realize that. maybe you could give that to mitt romney as a souvenir of the night he crushed you in that debate. >> my gosh. okay. >> so that's what he's doing. because i'm sitting there going, what's he doing? >> good morning, everyone. >> it makes more sense. it fills in the blank. >> that gives us proper context. >> it is friday. it is friday, thank god. i need two days away from all of you people. october 5th. >> mika, hold
'm not worried about gold yet. >> we will say thank you to you. jim tisch. "squawk on the street" starts right now. >>> tonight is the big night. we've got the first of three presidential debates, an estimated 60 million americans are going to watch. will it be the turning point for the tight race for the white house? good morning. welcome to "squawk on the street." i'm carl quintanilla along with melissa lee and jim cramer. meanwhile, david is at barefoot. >> reporter: good morning. we're down here at barefoot. >> david, we'll talk to you in a moment. a lot to consider, a lot of data out in the last few moments, including adp, which we will talk about as well. we will see if we add to these gains when we get to manufacturing ism. over in europe, we continue to watch every move out of the prime minister of spain and the first rating agency to take that country's debt to junk status. >> our road map starts with signs of hope in the labor market. days before the september jobs report on friday, could this juice the market ahead of the first presidential debate tonight? >> adp and deutsch deal cr
the jim lehrer detail on this. >> and your cantonist quoted as saying he never realized how difficult it would be to caricature furniture. he learned a new new lesson. >> interesting to see back to the poll numbers, we heard congressman ryan saying you get the -- no effect at all in that debate. i think -- >> we don't have the data yet. everyone is like -- >> waiting -- >> dying for the first poll. >> here's the thing. >> you're a pollster. >> that's right. here's the thing too. the last two minutes of anything, everybody here has spoken, you speak for a living. when you're told you have a two-minute close, that's got to be perfect, though. it's got to be devoid of any hesitation, perfect. you have to look at the man in the mirror and practice it, content, plan b, so i feel even there, there was a certain lacking. >> i thought the close was a metaphor for the 90 minutes. just like -- nothing there. >> the debates are all about expectations and after a disastrous debate you go into the next debate and people think he can't even talk now. the expectation theme in the next -- >> none of
of that on their commodities markets, as well. jim o'neill was in with me this morning again talking about the shift in china from quantity to quality which he thought actually would damage australia more and benefit somewhere like mexico, as well. so he has a trade on of short u.s. dollar, long mexico peso. back to you. >> all right, ross. stay tuned. 6:45. is it five hours -- i don't know. all right. >> half an hour. >> yeah, it's in a half hour. but don't you have to add five hours to that? no? coming up, take's weath etoday' of forecast and our squawk sports report. in person early voting begins today, but you tonight hayou do to prove it's you. who would ask for an i.d.? that's ridiculous. ohio joins 30 other states. and john harwood joins us to talk 308 ticks next. [ male announcer ] for the dreamers... and those well grounded. for what's around this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank. for
along with carl quintanilla and jim kramer. we have green arrows across the board. look at the picture in europe stemming from this report that spain could ask for a bailout as early as this weekend. so we'll see if that happens. that rumor certainly has been in the market. for now it is giving us a positive bid on the futures and the european markets. we'll start out with the road map beginning with follow-through to tomorrow's rally. this time pimico's bill cross has some not-so-nice things to say act america's addiction to debt, let's say it involves kris mall meth. >>> and google becoming the most valuable company after apple. how much is left in the tank at these record highs? >>> and american airlines facing serious questions after a second flight was found have loose seats. how much traffic do they stand to lose and which rivals are poised to benefit? but futures right now moving higher one day after upbeat manufacturing data helped lift the dow and the s&p 500 to gains in the first trading session of the fourth quarter. hopes for a bailout request from spain also adding to the
jim acosta has more on that. >> reporter: wolf, after millions of americans watched mitt romney go toe to toe with president obama at their first debate, the gop nominee now wants voters to see him as commander in chief. he's done just that in a series of foreign policy speeches, including one here at the virginia military institute where he kudz the president of allowing the middle east to drift closer towards war. telling a crowd of cadets and supporters at the virginia military institute that hope is not a strategy on foreign policy, mitt romney wasted no time in building his case that the middle east has grown more dangerous under president obama's watch. exhibit a was last month's attack that left a u.s. ambassador dead at the american consulate in libya. >> the attacks on america last not should not be seen as random acts. they're expressions of a larger struggle playing out across the broader middle east and i'll vigorously pursue the terrorists who attacked our consulate in benghazi and killed our fellow americans. >> reporter: romney then seized on the recently violence in syr
. last chance for the yankees in the ninth. the game is 3-2. a-rod at the plate. he's the tying run. jim johnson gets a-rod swinging to end the game. the orioles win 3-2. that series now tied at one. that is the first play-off win for the orioles in 15 years. the series now moves to the bronx for the final three game. cardinals trying to avoid going down two games to none at home with the nats. 7-3 when carlos beltran hammers one off the facade, third deck. he's not done. eighth inning, beltran with a moon shot. this one off the scaffolding in left center. cardinals win 12-4. beltran is second all time for multihome runs. reds at home going for the sweep of the giants. that's at 5:37 eastern. tigers can also sweep the as when they go to oakland tonight. tomorrow, a pair of series tie, nats host the cards and orioles in the bronx. >>> the new york jets coming off a 34-0 shutout loss at home to the 49ers had the bad misfortune of meeting the undefeated houston texans last night. first quarter, jets offense showing signs of life. mark sanchez throws one right over the defender to jeff cumb
and matt weeders scores. a 3-1 ball game. to the top of the 9th now, 3-2. jim johnson strikes out. alex rodriguez to end the game. the os hold on 32-2 to even the series at game one, at 7:30 in the bronx. request after winning 31 rolls in consecutive weeks, they give -- gave him the boot. he's a second year man out of ucla and spent time with the cowboys and has yet to kick an until regular season field- goal. the vikes. but the big question is who is playing under center? we saw what happened with rg3 and is, third quarter, suffering a concussion and forced to leave the game. he needs to be cleared by an independent neurologist to play against minnesota. if he can not go, curt cousins will get the start. the fourth round draft pick out of michigan state replaced the injured griffin on sunday and he through a 77-yard touchdown pass and two late inner is tensions. entersessions. how does the head coach feel about the backups? kissins and grossman. >> i have the conference in both guys and that is a great feeling to have a lot of times you feel good about one but not two. so, i probably h
this to attention? what are you doing to get heard in congress? >> at launch a website with senator jim demint who has been a great leader on this, way out in front on it, he released a study through the joint economic study that shows a slightly different version but both of them say basically the same thing. a problem transferring wealth from the responsible states to the irresponsible states and jim demint has been very good with this. ashley: we will continue to track your progress. thank you very much. of course we will take us up with the 18 later on in the broadcast. not bad for union work, taxpayers footing the bill on labor union activity. it is called a official time and it cost us millions. the author is here to explain. in a campaign ad from president obama is not telling the whole truth on governor romney's plan to the economy. >> he would double down on the same trickle-down policies that led to the crisis in the first place. ashley: we have the added and the facts the campaign conveniently left out. the nfl gets political, pro football owners and players making their voices heard on
wanted to have answered. it was an evening of substance. i am happy that jim lehrer was willing to ask us our positions on issues and we could describe those. it was not a big gotcha night from the moderator, but instead, a chance for the president and i to go toe to toe on important issues people care about. i thought it was a helpful night n. final analysis, people will decide what kind of america they want. >> sean: congressman ryan, you are up next. there have been a lot of controversial statement, but to save time, in recent weeks, joe biden has said that the middle class, the last four years has been buried. today, he went out there and said he's going to raise taxes, yes, we plan to raise taxes over $twenty1 trillion. your reaction? >> he was half right. it's about $2 trillion. but every now and then, joe is candid. he drops the veil. he was right when he aid the middle class has been buried four years. yes, they are proposing a massive tax increase. two years ago, when they said they were going to prevent a tax increase because of a slow economy, the economy is growing slower than
suppression. we're told this is a return to the jim crow laws. well, frankly 80 percent of americans support the total idea pools. the thomas is a high percentage for any issue, even high and another that your humble pie because people are estranged and some people. chieftains of hispanics and african-americans support photo id. in fact, rasmussen asked, they believe and for a is a serious issue? 63 percent of whites said yes and 64 percent of african-americans said gm's. african americans in some places live where a machine controls the political left that the live under. frankly it allows the crime rates to skyrocket. the biggest victim of flow from is minority reformers and veterinarians were political machines control the destiny in the can't fight city of. the mayor of detroit who until recently was serving in public housing after conviction for crimes, he won his second term in part because of a flood of fraudulent ballots. the city clerk cluster job after that. abilene were asking for another florist, a town we could extend free finlandia's to anyone. i believe it's a small number. in
morning. welcome to "squawk on the street." i'm melissa lee along with carl quintanilla, jim cramer and david faber live from the new york stock exchange. let's see how we're setting up this morning, this after the dow hit its highest levels in nearly five years on friday. taking a little bit of a pullback here. the dow is down 48 points here, according to fair value. nasdaq looks to lose about 15.50. finance ministers are gratherring fgrath eathering for a two-day meeting in luxembou luxembourg. our roadmap starts off in china. a lower economic forecast from the world bank? is their economy getting even worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in china down from a previous forecast of 8.2%. t
in their first debate. jim lehrer moderates from the university of denver. what and engage with our live debate preview at 7:00 p.m. eastern, followed by two ways to watch the debate at 9:00. on c-span, both candidates on- screen the entire debate. on c-span 2 bank, the multi camera version. following, your reactions, calls, e-mail, and tweets. following our coverage at c- span, c-span radio, and online at c-span.org. >> back to dallas. the texas senate debate, courtesy of wfaa. the senate seat is being vacated by kay bailey hutchison. [no audio] the texas senate debate getting underway shortly. ted cruz is a former solicitor general. paul sadler is a former member of the texas house. this is sent to us courtesy of wfaa tv. >> welcome back to, everyone, to ted cruz versus sadler. a lot of twittering going on, as the covered wide range of topics. let's get to some of them right here on the board. from david holmes -- i like this format. why won't you agree to more debates, cruz? up next, coming from joshua, sadler is already looking desperate, he may want to rethink his insistence on six debates
forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is that the focus of the discourse? i'm trying to make it alcoa. look, the imf is saying the obvious. the world bank is saying the obvious. if you continue to call for austerity you can't get growth. it's like, look, you want growth or want austerity. lyndon johnson, guns and butter equals inflation. if you just -- they are not doing guns or butter. if they are not doing margarine, they aren't doing machine guns. >> then you start again but they can't do that. >> we are devalued better than they are devalued. >> you would think we would be but the dollar is much stronger given anticipation of where rates are. >> true enough. stock specific stuff this morning is the netflix run over? shares of the online video service down in the market after b of a undergrades it to underperform from a bay. from the beginning of the
should have been in half an hour ago. so if you didn't make it, you're not going. jim o'neill wasn't applying, scott mcdonald wasn't applying either. i didn't get mine in. so never mind. stick here. also coming up, we'll be heading to new delhi to hear how undoing regulatory requirements could boost investments. details from one of the author of the quarterly cfo survey. and also president chavez is fig celebrating a hard-fought victory. if you have any thoughts, comments, whatever you like, e-mail us worldwide@cnbc.com or tweet @cnbcwex or @rosswestgate. first we'll turn our attention to china. analysts say there is hope the mainland services sector can help offset weakness in the manufacturing side. hsbc also says early easing measures and stronger consumption demand may have helped world bank is warning it needs to brace for slow growth. it's their slowest pace since 2001. it's because of the exposure to china which also had its outlook cut. joining uses for more, norman chan. norm, good to see you. the world bank downgrade just seems to be catching up with where everybody else
mitt romney. and not just with president obama. he took control of the moderator, jim lehrer, look at this. >> jim, the president began this segment so i think i get the last word so i'm going to take it. >> you're going to get the first word in the next segment. but he gets the first word of that segment and i get-- let me just make that comment. and let me repeat what i said, i'm not in favor of a 5 trillion dollar tax cut. stuart: where was that mitt romney the entire campaign. was that the strategy, surprise people at the debate and out comes the new mitt? joining us is pete snyder and works for the romney campaign in virginia and a fox news contributor. pete, was this a deliberate strategy, keep the guy under wraps and release him, at the first debate? >> stuart, no, i don't believe there is any underwraps strategy. this is mitt romney, the governor. this is mitt romney the take charge ceo. and stuart, with all the tv ads, with all of the, you know, the campaigning that's out there, never have we had an opportunity to have governor romney and president obama toe to toe. and wh
suspects worldwide. and jim axelrod with a young soccer player who's replaced a missing leg with gallantry on the field. >> i just want to be seen as an equal. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, and we could add happy new year, because this is the first day of the federal government's new fiscal year. but there's not much to celebrate because the nation is headed toward what's being called the fiscal cliff and there are dire new warnings today about what will happen to american families unless congress and the president reach a budget deal by december 31. that is the day that a series of tax cuts will expire and big cuts in federal spending will take hold. tax experts said today 90% of american families are facing llat they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. intt? >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every america
of congressmen who were worried about government spending. the committee chairman is congressman jim jordan. what do you want to do? cut for people of? >> no, we want to help them get to a better life. what you need to do is create programs that actually help people get to a better life. john: ever done before. >> you do it by not waving the work requirement like this administration did. you -- john: to be fair, they have not totally waived a work requirement. they let some states experiment. >> they also let some states not have a work requirement and there sang were not going to require that one key element that helps people get to the american dream, experiences. did the job. that is what we want to see. that key ingredient to accomplish anything that we all learn. john: how? that was already in the original welfare reform act? we have a new welfare reform act, updated version. >> for trying to get a handle on all of the social welfare spending the federal government does. estimates are 600 billion the year when you factor in medicaid and the 70 plus different programs that are out there. john
that when i told her she said she wasn't surprised that her grandfather said that he was the jim dandy and that characterization in her mind went along with this idea that at 71 he would marry for a third time. she told me the family story of how he learned to read and write. he learned in the presence of the little master or the white boy. this might well have been dolley's son payne todd who would be the object of the instruction and jennings would be standing to the side but listening and absorbing and learning. in the book i presented perhaps the first instance of jennings taking advantage of his position. he was the good listener and a good network. there are so many places he was associated with that are extent in washington today. one of them is not his own house. his own house located where else street and 18 intercept. some of you may remember until very recently was border's books and i would go there and i would go into the cafe. i was sitting in my coffee thinking i could be at paul jennings's kitchen table right now and unfortunately they went out of business so i never ha
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